Matson, Inc. (NYSE:MATX)‘s stock had its “underperform” rating reaffirmed by equities research analysts at Wells Fargo & Company in a research note issued on Monday. They currently have a $22.00 target price on the shipping company’s stock. Wells Fargo & Company’s price target indicates a potential downside of 16.51% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price on shares of Matson in a research note on Thursday. Stephens set a $40.00 target price on shares of Matson and gave the company a “buy” rating in a research note on Saturday, June 10th. Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, August 3rd. Finally, BidaskClub raised shares of Matson from a “sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Matson has a consensus rating of “Hold” and an average price target of $27.00.

Shares of Matson (NYSE:MATX) traded up 2.4812% during midday trading on Monday, hitting $27.0038. 155,337 shares of the stock were exchanged. The firm has a 50-day moving average price of $26.93 and a 200 day moving average price of $29.73. Matson has a 12-month low of $21.63 and a 12-month high of $42.00. The firm has a market cap of $1.16 billion, a PE ratio of 15.5105 and a beta of 1.17.

Matson (NYSE:MATX) last announced its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.11. Matson had a net margin of 3.76% and a return on equity of 16.10%. The firm had revenue of $512.50 million during the quarter, compared to the consensus estimate of $495.19 million. During the same quarter in the previous year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts predict that Matson will post $1.68 earnings per share for the current fiscal year.

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In related news, CFO Joel M. Wine acquired 6,100 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $24.07 per share, with a total value of $146,827.00. Following the purchase, the chief financial officer now directly owns 99,411 shares in the company, valued at approximately $2,392,822.77. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas B. Fargo acquired 2,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were bought at an average cost of $23.61 per share, with a total value of $47,220.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 12,200 shares of company stock valued at $292,734. Corporate insiders own 2.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Matson by 83,732.7% during the 1st quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock valued at $189,865,000 after acquiring an additional 5,970,976 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Matson by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 58,587 shares of the shipping company’s stock valued at $1,759,000 after acquiring an additional 1,788 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Matson by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock valued at $122,062,000 after acquiring an additional 195,335 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Matson by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 243,875 shares of the shipping company’s stock valued at $7,746,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Matson by 1.8% during the 1st quarter. Arizona State Retirement System now owns 22,485 shares of the shipping company’s stock valued at $714,000 after acquiring an additional 400 shares during the last quarter. 84.13% of the stock is owned by institutional investors.

Matson Company Profile

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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